Miami Real Estate News
Miami
Automated Property Pricing Algorithms Bolster Price-Fixing Claims, Say DOJ
On March 28, 2024, the Antitrust Division of the U.S. Department of Justice (DOJ) intervened for the third time recently, backing plaintiffs in class action lawsuits challenging defendants' utilization of pricing software.
Driven by High Rates, U.S. Commercial Lending Imploded 47 Percent in 2023
In 2023, total commercial real estate mortgage borrowing and lending was estimated at $429 billion, marking a 47 percent decline from $816 billion in 2022, and a 52 percent fall from the record high of $891 billion in 2021.
Cost of Buying a Home Hits Record High as Mortgage Rates Jump in U.S.
This past week, the average daily mortgage rate climbed to over 7.4%, marking its highest point since last November 2023, influenced by an unexpectedly high inflation report and confirmation from the Federal Reserve that interest rate reductions would be postponed.
Greater Miami Residential Sales Decline 15 Percent in March
Recent data from the Miami Association of Realtors shows that total sales in Miami-Dade County decreased by 14.8% in March 2024, falling from 2,513 to 2,141 units sold.
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